- 1 How much did the Queen’s death cost
- 2 How much will the Queen Elizabeth funeral cost
- 3 Is Queen Elizabeth a billionaire
- 3.1 What is Prince William salary?
- 3.2 Who is the richest Royal Family member?
- 4 Why was the Queen Mother so rich
- 5 How much debt did Queen Elizabeth inherit
How much did the Queen’s death cost
Queen Elizabeth II’s funeral cost the UK $200 million May 18, 2023 6:58 PM EDT LONDON (AP) — and lying-in-state last year cost Britain’s government an estimated 162 million pounds (around $200 million), the treasury revealed Thursday. The state funeral for the late monarch, held on Sept.19, was the first in the U.K.
Hundreds of thousands of people were drawn to London’s Westminster Hall to see the United Kingdom’s longest-serving monarch lying in state.The costs were published Thursday as part of a written statement to Parliament.”The government’s priorities were that these events ran smoothly and with the appropriate level of dignity, while at all times ensuring the safety and security of the public,” said John Glen, chief secretary to the treasury, in a statement.
Elizabeth and her husband, Prince Philip, were both interred at St. George’s Chapel in Windsor Castle. Philip, who died in 2021 at 99 years old, chose not to lie in state and his funeral was a muted affair, because it was held under strict social distancing rules during the COVID-19 pandemic.
- The last royal funeral before that was for Elizabeth’s mother, known as the Queen Mother, in 2002.
- She lay in state for three days, and her funeral costs were estimated to be around 5.4 million pounds.
- Left: Queen Elizabeth II ‘s grandchildren (clockwise from front centre) the Prince of Wales, Peter Phillips, James, Viscount Severn, Princess Eugenie, the Duke of Sussex, Princess Beatrice, Lady Louise Windsor and Zara Tindall hold a vigil beside the coffin of their grandmother as it lies in state on the catafalque in Westminster Hall, at the Palace of Westminster, London, Saturday, Sept.17, 2022.
Photo by Aaron Chown/Pool via Reuters By — : Queen Elizabeth II’s funeral cost the UK $200 million
How much will the Queen Elizabeth funeral cost
Queen Elizabeth II’s funeral cost over $200 million, UK government reveals Britain’s King Charles III (L), Britain’s Camilla, Queen Consort, Britain’s Princess Anne, Princess Royal, Vice Admiral Timothy Laurence, Britain’s Prince Andrew, Duke of York, Britain’s Prince Edward, Earl of Wessex, Britain’s Sophie, Countess of Wessex, Britain’s Prince William, Prince of Wales, Britain’s Prince George of Wales, Britain’s Catherine, Princess of Wales, Britain’s Prince Harry, Duke of Sussex and Meghan, Duchess of Sussex walk behind the coffin of Britain’s Queen Elizabeth II as they leave Westminster Abbey in London on September 19, 2022, after the State Funeral Service for Britain’s Queen Elizabeth II.
- LONDON — The state funeral of Queen Elizabeth II cost the U.K.
- Government around £162 million ($201.4 million), the Treasury said on Thursday.
- The U.K.’s longest-serving monarch, aged 96, at Balmoral Castle in Scotland.
- A 10-day period of national mourning, during which most businesses and workplaces remained open but many events were canceled, was held ahead of her on Sept.18.
An estimated 250,000 members of the public saw the British queen lying in state in London during the mourning period, with many queuing in the streets of London for more than 24 hours. She was buried at St. George’s Chapel in Windsor Castle, Berkshire.
The hearse carrying the coffin of Britain’s Queen Elizabeth is escorted along the Long Walk towards Windsor castle in the funeral procession, on the day of the state funeral and burial of Britain’s Queen Elizabeth, in Windsor, Britain, September 19, 2022 According to the newly-released figures, the costs to U.K.
government departments included £73.68 million to the Home Office, £57.42 million for the Department for Culture, Media & Sport, £2.565 million to the Department for Transport, £2.096 million for the Foreign Office, and £2.89 million for the Ministry of Defence.
- The cost to the government in Scotland, where a slow hearse procession and a one-day lying in state was held, was £18.756 million.
- The central U.K.
- Treasury said this had been refunded.
- The queen’s successor and son, King Charles III, was on May 6 during a three-day weekend of coronation celebrations between £50 million and £100 million.
: Queen Elizabeth II’s funeral cost over $200 million, UK government reveals
Who will inherit Queen Elizabeth money?
How does inheritance work in the royal family?
- can be a tricky subject, particularly because it involves all the emotions that come with a death in the family, dealing with and splitting what is left among multiple family members if the dearly departed’s will is unclear.
- But as complicated as they are for regular people, inheritance among the British can be mysterious due to monarchs’ wills being sealed for decades after their death.
- When died last September, her eldest son, the now-, inherited more than just the Crown.
- The exact value of how much Charles inherited is unclear, but at least one of the assets he was given is the Queen’s private estate, the Duchy of Lancaster, which is valued at more than £650 million.
- But the King has reportedly stirred up “some resentment” among his younger siblings, the Duke of York, the Princess Royal and the Duke of Edinburgh over their late mother’s inheritance.
Prince Andrew in particular, As a non-working royal, he does not receive handouts from the Sovereign Grant to cover costs, unlike Princess Anne and Prince Edward. Here’s everything you need to know about how inheritance works in the royal family. King Charles is the sole beneficiary of the Queen’s wealth, including her £650 million estate.
- In 1993, a deal was negotiated between the Crown and John Major’s government in 1993 that effectively.
- If this were not the case and the regular inheritance tax rule applied, Charles would have to pay 40 per cent inheritance tax on anything he inherits over a £325,000 threshold – which would have meant paying millions to the Treasury.
- However, the deal struck with Major’s government was part of a “Memorandum of Understanding on Royal Taxation” that states some royal assets are held by the monarch as “Sovereign rather than as a private individual”.
- It says that it is therefore “clearly inappropriate for inheritance tax to be paid in respect of such assets”.
- The memorandum also exempts the monarch’s private property from inheritance tax when it is being passed down to the next sovereign.
- “In relation to assets which can be properly regarded as private, the arrangements provide that inheritance tax will not be paid on gifts or bequests from one Sovereign to the next, but will be payable on gifts and bequests to anyone else,” it says.
- Therefore, anything that Charles has inherited from his mother is not subject to inheritance tax.
- It appears that the King has no intention of sharing his vast inheritance with his siblings.
King Charles III (front C), Princess Anne, Princess Royal (L), Prince Andrew, Duke of York (rear C) and Prince Edward, the Duke of Edinburgh (R), arrive to attend a Vigil at St Giles’ Cathedral, in Edinburgh, on September 12, 2022 However, Anne and Edward are working royals and can rely on handouts from the Sovereign Grant.
- It comes after Andrew reportedly– where he has lived for nearly 20 years – if the King cuts his £249,000 annual allowance cut from April.
- The Independent has contacted Buckingham Palace for comment.
- The royal family have three main sources of income, which are the Crown estate, the Duchy of Lancaster and the Duchy of Cornwall.
The Crown estate, a real estate portfolio reportedly valued at around £15 billion, includes Buckingham Palace, the Royal Lodge, Windsor Castle and some other royal properties, as well as large parts of central London. In fact, the monarch is one of the largest property owners in the West End.
It also includes the seabed and half the foreshore around some parts of England, Wales and Northern Ireland. However, the royal family are not true owners of the Crown estate and act more like custodians of the portfolio. Profits from the estate go to the UK government, and a proportion of the income is returned to the royals in the form of the Sovereign Grant.
As mentioned before, the Duchy of Lancaster is estimated to be worth £650 million. The estate will pay the King an income of around £24 million, as it did the late Queen. But before he ascended the throne, Charles enjoyed the Duchy of Cornwall as the former Prince of Wales.
Who is responsible for the queens funeral?
Who is the Earl Marshal? – The Earl Marshal is Edward Fitzalan-Howard, 66. He is the 18th Duke of Norfolk, a title he inherited when his father died in 2002. He has five children. Mr Fitzalan-Howard studied at the University of Oxford, after being privately educated at a boarding school in North Yorkshire.
- The most senior lay member of the Catholic church, and the most senior peer, Mr Fitzalan-Howard is reportedly worth more than £100 million, according to the Telegraph,
- The Fitzalan-Howard family is one of Britain’s oldest aristocratic families, and can be traced back to Edward I.
- Their seat is Arundel Castle in West Sussex, which has been in the family for more than 850 years.
His grandfather was responsible for organising the Queen’s coronation in 1953 and Sir Winston Churchill ‘s funeral in 1965. Mr Fitzalan-Howard’s brother, Lord Gerald Fitzalan-Howard, appeared on the ITV reality show Keeping Up with the Aristocrats. Their sister, Lady Marcia Fitzalan-Howard, is an actress who has appeared in The New Statesman and Midsomer Murders, among other things.
How much was the Queen’s salary?
What was Queen Elizabeth II’s salary? – Image: Ben Stansall – WPA Pool/Getty Images. Taking her many streams of income into account, the Queen earned a generous salary each year until her death According to the Evening Standard, this looked like an estimated $97.2 million in yearly income for Her Majesty in 2020.
- The Queen is also a senior member of The Firm, also known as the Monarchy PLC, according to Fortune.
- The firm is made up of the public faces of the House of Windsor and the royal family members the Queen was the head of.
- According to Fortune, The firm operates and a multi-million-pound business empire that boosts the United Kingdom economy through televised events and tourism.
The Queen was the head of The Firm. The other seven members are: King Charles; his wife Camilla, Queen Consort; Prince William; his wife Kate, Duchess of Cambridge; Princess Anne; Prince Edward; and his wife Sophie, Countess of Essex. According to Forbes, the British royal family holds almost $28 billion in real estate as of 2021 that cannot be sold.
The Crown Estate: $19.5 billion Buckingham Palace: $4.9 billion The Duchy of Cornwall: $1.3 billion The Duchy of Lancaster: $748 million Kensington Palace: $630 million The Crown Estate of Scotland: $592 million
Did the Queen Mother owe money when she died?
LONDON, Jan.5 (UPI) – Britain’s beloved Queen Mum overspent her income while she was alive and left millions of pounds in debts at her death. Queen Elizabeth, called the Queen Mother to distinguish her from her daughter, Queen Elizabeth II, never carried money or did her own shopping and had little idea how much things cost, the Daily Mail reported.
- She preferred to drink Krug champagne, owned racehorses and bought paintings.
- A letter written in 1926 when the Queen Mum was Duchess of York shows a lifetime of extravagant habits, the newspaper said.
- Writing to the court dressmaker, the duchess expressed concern about the cost of her dresses.
- Admirers say the letter shows she was worried about overspending.
Others believe she was trying to get the dressmaker to knock the price down. By the end of her life, Elizabeth’s income from the Civil List was almost $1.3 million a year. Her daughter and her grandson, Prince Charles, quietly helped her out. Her financial situation became more tangled as her longtime treasurer grew older.
How long will queen funeral last?
How long is the Queen’s funeral? – At 11.55am, the Last Post will sound, followed by a national two-minute silence. Reveille, the national anthem and a lament, played by the Queen’s Piper, will bring the state funeral service to an end at around 12pm – meaning the service will last almost exactly an hour.
How much money did Queen Elizabeth leave Harry?
Royal Inheritance – After stepping down as working royals, Harry and Markle largely relied on Harry’s inheritance from his late mother, Princess Diana, estimated at $10 million. Representatives told Forbes in 2021 that Harry was not a beneficiary of any of the $100 million left to the royal family by his great-grandmother, the Queen Mother.
It’s unclear if Harry was left any money from his grandmother the late Queen Elizabeth II, whose will is expected to stay sealed for at least 90 years. Harry and Meghan wave from the Ascot Landau Carriage during their carriage procession on the Long, Walk as they head back toward Windsor Castle in Windsor, on May 19, 2018, after their wedding ceremony.
AFP via Getty Images
Is Queen Elizabeth a billionaire
How did Queen Elizabeth build her net worth? – Queen Elizabeth II was the longest-serving monarch in British history and one of the longest-serving monarchs around the globe reigning for more than 70 years. After Elizabeth birthed Charles, she gave birth to three more children, Princess Anne, Prince Andrew, and Prince Edward.
She was the grandmother to and, While the Queen of England was one of the richest women in the world, she actually didn’t have billionaire status. Her fortune only amounted to only $600 million, despite being the caretaker of the Royal Family’s vast global assets. Queen Elizabeth II had a personal title on Balmoral Castle in Scotland and Sandringham Estate in Norfolk, England.
She inherited this real estate from her father after his passing. She also had a sizable stock portfolio currently under management and a stamp and art collection. The Crown Estate is a real estate portfolio not owned by the government or Elizabeth. However, if she did own the Crown Estate, it would have increased her net worth to $25 billion and made her one of the 50 richest people in the world.
What happens to queens staff after funeral?
It’s likely that the monarchy will try to retain staff and place them within other households, but of course, this could result in some redundancies.
Do the queens staff go to the funeral?
Non-royals who will be going – Behind every royal is a team of ladies-in-waiting, doctors, nurses, footmen, and other key personnel. The Queen’s former staff members joined the British Royal Family in the procession from Buckingham Palace to Westminster Hall on September 13.
Will the Queen have a private funeral?
Queen Elizabeth was buried at King George VI Memorial Chapel after her state funeral and committal service on Monday. The late monarch was laid to rest beside her husband of 73 years, Prince Philip, during a private burial service, Buckingham Palace confirmed,
The Palace also paid tribute to the Queen on social media alongside a beautiful photo of her enjoying the great outdoors, writing, “‘May flights of Angels sing thee to thy rest.’ In loving memory of Her Majesty The Queen.1926 – 2022.” Buckingham Palace confirmed details of the private burial with a simple statement on social media earlier Monday.
“This evening a Private Burial will take place in The King George VI Memorial Chapel at Windsor. The Queen will be Laid to Rest with her late husband The Duke of Edinburgh, alongside her father King George VI, mother Queen Elizabeth The Queen Mother and sister Princess Margaret,” the palace wrote, sharing a vintage, undated photo of the five royals.
Prince Philip, who died at age 99 in April 2021, was moved from the Royal Vault beneath the chapel, where he was temporarily interred, to be by her side. Can’t get enough of PEOPLE ‘s Royals coverage? Sign up for our free Royals newsletter to get the latest updates on Kate Middleton, Meghan Markle and more! Joe Giddens – WPA Pool/Getty The pair wed in a stunning ceremony on November 20, 1947, at Westminster Abbey — the same place where Prince William and Kate Middleton were married in 2011.
“She fell in love at age 18 and she never looked at anyone else,” Sally Bedell Smith, author of Elizabeth the Queen, previously told PEOPLE. For more on Queen Elizabeth’s funeral, listen below to our daily podcast PEOPLE Every Day. “He has quite simply been my strength and stay all these years,” the Queen said of her husband on their golden wedding anniversary in 1997.
I owe him a debt greater than he would ever claim.” Her parents, King George VI, who died in 1952, and Queen Elizabeth the Queen Mother, who died in 2002, as well as her sister, Princess Margaret, who also died in 2002, are also all interred at the King George VI Memorial Chapel. RELATED VIDEO: Queen Elizabeth ‘s Coffin Is Lowered into Royal Vault in Stunning Final Farewell While King George VI and the Queen Mother are buried in the tomb, Princess Margaret was cremated and her ashes placed with her parents, despite cremation not being a traditional process for the royals.
Some have speculated that part of the reason why Princess Margaret was cremated was so she would fit with the rest of her family in the burial spot. “I think she’d like to be with the late King, which she will now be. There’s room I think for her to be with him now.
What is Prince William salary?
What Is Prince William’s Annual Salary? It goes without saying that is rich (I mean, the man is a literal prince), but he’s entered a whole different world of wealth thanks to hew new role as the Duke of Cornwall. The royal family just released its yearly financial breakdown, and according to the report (via ), Prince William receives an income of nearly £6 million, or $7.5 million, per year.
- So, what the hell is a Duchy and how can you get one? 1) you can’t, and 2) as the report puts it, “The Duchy is a private estate that provides an income to The Duke of Cornwall and his family to fund his official, charitable and private activities.
- It is managed in harmony with the natural environment and for the benefit of its local communities so that it can be passed on with pride to the next generation.” Um.
Kay. WPA Pool // Getty Images We have a full breakdown of the Duchy of Cornwall if you want to get really into the weeds of William’s wealth, but TLDR: is a private portfolio of land and financial investments that’s currently owned by Prince William and was previously owned by King Charles (it gets passed from one Duke of Cornwall to another).
- It was founded by Edward III in 1337 “to provide independence” to his heir.
- The Duchy itself consists of 52,449 “hectares of land,” including farms, forests, rivers, coasts, residential properties, quarries, and a staggering £345 million worth of commercial properties.
- And once Prince William levels up and becomes King, Prince George will be the next to inherit it.
Now excuse me while I go have a difficult conversation with my parents about why I’m not inheriting a Duchy of my own. This content is imported from Giphy. You may be able to find the same content in another format, or you may be able to find more information, at their web site. Mehera Bonner is a celebrity and entertainment news writer who enjoys Bravo and Antiques Roadshow with equal enthusiasm, She was previously entertainment editor at Marie Claire and has covered pop culture for over a decade. : What Is Prince William’s Annual Salary?
What did Kate inherit from the Queen?
What did Kate Middleton inherit from Queen Elizabeth? – Image: Samir Hussein/WireImage. What did Kate Middleton inherit from Queen Elizabeth? Kate is the Princess of Wales and the wife of Queen Elizabeth II’s grandchild, Prince William, the Prince of Wales. Kate is also the mother of Queen Elizabeth’s great-grandchildren: Prince George, Princess Charlotte and Prince Louis.
- So what did Kate Middleton inherit from Queen Elizabeth? Radar Online reported in September 2022 that Kate was expected to inherit $110 million in jewelry from the Queen’s personal jewelry collection, which includes 300 pieces that belonged specifically to the Queen and not the Crown.
- Been focusing on her beloved pieces and who deserves what,” a source told Radar Online in July 2022, two months before the Queen’s death.
“The whispers are that she’s made some last-minute changes to her will that’ll be a shocking surprise for her heirs.” Radar Online reported that the Queen’s decision for Kate, who she became especially close to in the final months of her life, to inherit her jewelry led to resentment from King Charles’ wife, Queen Consort Camilla.
“Kate is clearly the family favorite,” the insider said. “She’d never say it, of course, but it’s one of the reasons Camilla resented Kate.” Radar Online also reported that Kate plans to pass some of the jewels to her daughter, Princess Charlotte. While Kate inherited $110 million in jewelry from the Queen, that collection did not include the Spencer tiara, a diamond-encrusted crown inherited by William’s late mother, Princess Diana, in the mid-1970s.
Diana wore the tiara in her wedding to King Charles—then Prince Charles —in 1981. According to the website for the auction house Sothebys, the tiara was inherited by Kate and William’s daughter, Princess Charlotte. “Having been worn by Princess Diana at her wedding, the Spencer Tiara is one of the most famous diadems in modern history.” the auction house noted.
- The Spencer Tiara is now set to be inherited by Princess Charlotte.” The description of the tiara continued, “In the mid-1970s, John Spencer, the 8th Earl Spencer, inherited the tiara.
- It was subsequently worn by all three of his daughters at their wedding: Lady Jane in 1978; Lady Sarah in 1980; and finally Lady Diana the following year, in 1981.
The tiara was most recently worn by Celia McCorquodale – niece of the 10th Earl Spencer Charles – at her wedding in the Spring of 2018.”
Who is the richest Royal Family member?
List of royalty by net worth
|1||Vajiralongkorn||King of Thailand|
|2||Hassanal Bolkiah||Sultan of Brunei|
|3||Salman||King of Saudi Arabia|
|4||Khalifa bin Zayed Al Nahyan (died in 2022)||President of the United Arab Emirates Emir of Abu Dhabi|
Did Prince Philip leave money to Harry?
Prince Philip Reportedly Left £30 Million in His Will to ‘Three Key Staff’ Members. Prince Harry is also apparently expected to receive an inheritance.
Why was the Queen Mother so rich
As the royal family mourns the death of Queen Elizabeth II, many have begun to wonder how the longest-serving immense wealth will be divided up among her relatives. Despite an estimated personal net worth of $657 million in 2022, comprising assets, the Sovereign Grant and her personal income, according to Forbes, the Queen and her family’s personal bank balances have long been shrouded in mystery, Estimates surrounding the 96-year-old Queen’s wealth have varied significantly over the years, with The Sun reporting in 2019 that her total net worth was actually $3 billion. Stay up to date with the latest news on the British Royals with Flash.25+ news channels in 1 place. New to Flash? Try 1 month free. Offer ends 31 October, 2022 > A book published in 2019 by British politician and member of the Privy Council, Norman Baker, highlighted just how little is known about how the royal family achieved, and maintain, their vast personal wealth. The Queen left behind several assets including personal investments “in British blue chip shares,” an expansive art collection with a number of pieces left by her late husband Prince Philip, hundreds of millions worth of historic jewellery and personally-owned real estate including Sandringham House and Balmoral Castle. So how much is “The Firm” worth? According to Forbes, Monarchy PLC, or “The Firm”, an informal title for the British royal family and its associated institutions, holds nearly $38 billion in total. Its assets include The Crown Estate, which holds $26.6 billion, Buckingham Palace, worth an estimated $6.7 billion, the Duchy of Cornwall holds $1.7 billion, the Duchy of Lancaster, approximately $1 billion, Kensington Palace, with an estimated worth of $861 million, and the Crown Estate Scotland which holds $809 million. So how did the Queen make money? In 2019, it was reported vast tracts of the UK seabed owned by The Crown Estate were being auctioned off to create the world’s biggest wind power development. This meant the Queen and Co. were set to reap a huge windfall, and by 2030, were poised to make up to $150 million each year from this project alone, The Guardian reported, Reports also suggest the Queen also holds an investment portfolio worth up to about $952 million. In addition, she is said to have had one of the world’s greatest stamp collections, valued at $190 million. Then there is the property — Balmoral and Sandringham — which were owned by the Windsor family as opposed to the Crown. Those two properties alone are worth about $389 million. The Duchy of Lancaster is also owned by the sovereign, which includes some of London’s most valuable real estate including castles and land across the country.
As of 2019, the Queen was raking in about $38 million in money from the Duchy, which was not required to be used to fund official travel or for upkeep on Crown properties (such as Buckingham Palace). The Queen’s inheritance The Queen Mother left an estimated $126 million fortune to the Queen, including many significant works of art.
Although according to the BBC, Her Majesty decided the most important pieces left by her mother would be transferred to the Royal Collection, where they would be “held in trust for the nation.” A large part of the Queen Mother’s fortune was given to her in the form of the “Greville Inheritance”, a vast jewellery collection owned by Margaret Greville in 1942.
- When the wealthy socialite passed away, a black tin box was given to the Queen Mother containing jewellery.
- According to the National Trust, to this day, no one publicly knows how much jewellery was in that black box.
- However, we do know the haul included a necklace that belonged to Marie Antoinette and the enormous Greville tiara that the Duchess of Cornwall regularly wears.
The Duchess of Cambridge has worn the Greville ruby and diamond necklace. The truth about her private empire Back in February 2021, The Guardian reported that the monarch’s private lawyer had successfully lobbied the government to change a draft law to conceal her private wealth. The newspaper said a clause had been included in the law in the 1970s granting the power to exempt companies used by “heads of state” from new transparency measures.
- But a spokeswoman for Buckingham Palace rejected suggestions that the Queen had intervened, The Sun reports.
- She said: “Queen’s Consent is a parliamentary process, with the role of sovereign purely formal.
- Consent is always granted by the monarch where requested by government.
- Any assertion that the sovereign has blocked legislation is simply incorrect.
“Whether Queen’s Consent is required is decided by Parliament, independently from the Royal Household, in matters that would affect Crown interests, including personal property and personal interests of the monarch. “If consent is required, draft legislation is, by convention, put to the sovereign to grant solely on advice of ministers and as a matter of public record.”
How much debt did Queen Elizabeth inherit
2 Although Elizabeth inherited huge debts of around £300,000, she spent £16,000 on a grand coronation.
How much money did the Queen have before she died?
Queen Elizabeth’s net worth: $500 million – The queen’s personal fortune stems from her ownership of art, jewels, investments and real estate, which includes Balmoral Castle in Scotland — where she passed away on Thursday — and Sandringham House in England. Together, those assets are valued at $500 million, Forbes estimates, A flag flaps in the wind at half staff on Balmoral Castle in Aberdeenshire, Scotland, Friday, Sept.9, 2022. Alastair Grant / AP Most of her personal estate will be inherited by King Charles, according to Forbes.
How much money was spent on the coronation 2023?
A member of Operation Golden Orb organising committee told The Sun that the ceremony may have cost £100 million. But separate unverified sources have suggested an even higher bill, of up to £250 million, partly because of the vast security costs.
How much will it cost to change everything from queen to king?
Some experts estimate it could cost about 350 million pounds (€403 million or $402 million) to stick King Charles’ head on UK banknotes and coins and take several years. The Bank of England says it costs approximately 7 to 8 pence to produce a banknote.
There are some 4.7 billion banknotes in circulation in the UK. So the cost to replace these can be estimated at around 350 million pounds, according to Joe Trewick, a writer at The Coin Expert, a website for coin collectors and hobbyists. “The Royal Mint does not disclose how much it costs to produce new coins, but with 29 million currently in circulation to replace, we can assume the total cost will also be several million pounds,” Trewick told DW.
“Keep in mind that this cost will not be needed upfront,” Trewick added.